SigmaWay Blog

According to authors, digital disruption, is an unavoidable deluge of new digital tools  that is implemented to refine the business process on the digital front. Categorising the vast arena of business, technology, industry and social changes and planning the technological stack to identify digital disruption over time, helps an organisation in escaping its adverse effects as well as flourish. Following measures will nullify its adverse impacts:1) Maintaining  lean and agile technologies, thereby ensuring flexibility to adapt to the changing environment 2) Staying connected to market research, customers and business partners 3) Implementing formal innovation management programs must be prioritised 4) Regular brainstorming sessions across different departments and teams to strengthen cooperation 5)Provisioning the requisite internal resources to ensure compatibility between existing and upcoming systems. Read more at https://www.qmarkets.net/digital-disruption-businesses-can-best-leverage/

According to authors, MLBox is a powerful  Automated Machine Learning Python library ,but, weighing  the following pros and the cons is crucial before using  it.Pros:1)Automatic identification  and classification of task 2) Pre-processing of data while reading and removing the drift variables, thereby cleaning  files 3) Fast and accurate hyperparameter  optimization and aims at low validation score 4)Constructing a Machine Learning Regressor  for forecasting  using minimum lines of code 5)Uses Entity Embedding for encoding categorical variables for creating new informative traits.  Cons: 1)Things may collapse suddenly since it’s under active development 2) Unobserved Learning enjoys no support 3)Basic Feature Engineering ,requires creating own features 3)Selection method being purely mathematical drops out variables significant on the business front 5) Not truly an Automated Machine Learning Library.Read more at https://www.analyticsvidhya.com/blog/2017/07/mlbox-library-automated-machine-learning/

MercadoLibre one of Latin America's biggest e-commerce sites, with 130 million registered users and an average of 4.6 purchases made every second of the day. It uses Google Analytics 360 to help the advertisers improving their programmatic direct campaigns. MercadoLibre started by creating audience segments for popular product lines and then made those Analytics 360 segments available to advertisers. Advertisers using DoubleClick Bid Manager could then negotiate the impression volumes they wanted at fixed CPMs for each of their priority segments. With the Programmatic Guaranteed deals, advertisers are guaranteed reach and precision, as their ads are targeted to well-defined audiences who are likely to buy their products. The results were pretty much satisfactory. Read more at: https://analytics.googleblog.com/2017/06/mercadolibre-uses-unique-audience-insights-from-analytics-360-cs.html

According to authors, the remarkable impact of Application Programming Interfaces(APIs), is in the analytics front. From accumulating data from new root to evaluation, it has radically changed the face of analytics and the core role of the citizen data scientists ,by gathering right and reliable datasets ,thereby simplifying advanced analytics and enabling them to devote more time behind identifying and interrogating new and valid questions about data. Developers can borrow functionality from other apps by allowing interaction between two pieces of codes , thereby bringing different bits of software together. Efficiency depends on use. Whether APIs will replace citizen data scientists or not, in future, is unpredictable, as, on one hand, business users will have easy access to analytics without their support and on the other hand, their role will also evolve. Read more at http://blogs.sas.com/content/hiddeninsights/2017/06/23/apis-data-scientists/

According to authors, AI and Machine Learning algorithms, introduces us to an era of intelligent conversational environments , by  bringing about a paradigm shift in technologies and strategies ,thereby collaborating the rate of progress in business and process for automation, thus making an enterprise more smarter ,flexible and conversational. AI mainly focuses on making support systems more efficient across a multitude of applications, processes and business domains, bringing about intelligent collaboration capabilities to the emerging Conversational Workspace platforms, improving workflows, automating repetitive tasks and initiating automated interactions via voice assistance ,thereby, helping an organization to take better decisions and grow. Read more at https://aitrends.com/speech-recognition/idg-contributor-network-the-growing-impact-of-artificial-intelligence-on-workplace-collaboration/

According to authors, both Artificial Intelligence and Pattern-Recognition algorithms, which metamorphoses horses into zebras and winter scenes into summer, have revolutionised healthcare, where robot radiologists, can visually diagnose and examine  X-rays ,stained breast cancer slides and medical signs involving correlations between normal and abnormal health patterns,  in detail and with remarkable precision, thereby empowering the doctors to conduct a detailed research and to better  patient’s welfare. The core activity of AI is to make the machines intelligent and using this intellect, an entity can function smoothly, efficiently and  with perfect foresight in its environment, thus allowing an organisation to flourish and expand its operations. Read more at https://aitrends.com/healthcare/supercharge-healthcare-ai/

According to authors, Artificial Intelligence , can easily and effortlessly make a copy of audio and video content with an  intent to deceive the viewers, in a world which believes in Seeing is Believing. Though analytics, big data, and machine learning have helped  us in unfolding the truth, yet  these technologies cannot be fully relied upon, as it lies, by forging audio and video content, leading us to a fake world. As far as the audio and the video forgery is as concerned, anyone can  generate realistic-sounding speech with  varied intonation, in the voices  of famous personalities  and realistic-looking videos  by changing  both the facial expressions and pitch contour, on You Tube Videos, by using AI-based software. Recently, Adobe is working on similar technology  which aims at producing  “Photoshop  For Audio”. Read more at https://aitrends.com/opinion/ai-will-make-forging-anything-entirely-easy/

Customers who have made purchases with a business once, make up a significant chunk of customer database. The second purchase is a key milestone in the customer journey. Now, using data, certain areas should be focused on first time customers that can help to push these customers into their second purchase. They are:

• A varied basket – with items from multiple departments – doubles the chances that a customer will make a second purchase.

• By offering discounts.

• Returns predict a higher customer lifetime value.

Optimizing these above factors can attract many customers on a long term basis. Read more at http://www.optimove.com/blog/ecomm-using-data-push-customers-second-purchase

Artificial Intelligence is development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages. Therefore, AI can process a lot more data than human brain can, and thus can do more work accurately in less time. Along with data analysis AI can perform much more complex tasks such s determining customer preferences for products based on previous buying habits and understanding unstructured data. AI is augmenting the capabilities of human by solving such complex challenges. The importance of artificial intelligence can also be seen in healthcare industry for suggesting appropriate treatments for patients, fraud detection, financial services and retail. AI can be incorporated in business by using machine, deep and memory based learning which is AI’s core. Read more at: http://www.datasciencecentral.com/profiles/blogs/artificial-or-augmented-intelligence-talks-with-intel-s-chief

Core Banking Solution (CBS) is networking of branches, which enables customers to operate their accounts, and avail banking services from any branch of the Bank on CBS network, regardless of where he maintains his account. By regional analysis, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World, with North America generating the highest market share owing to higher technology implementation. Due to its capabilities to improve efficiency and better risk management, core banking solutions is growing rapidly. On the basis of solution segment, it offers better customer support service, provides single integrated platform to all the banking channels and lower operational cost, improves efficiency in streamlining process related to customer account management. Read more at: http://www.datasciencecentral.com/profiles/blogs/core-banking-solutions-market-analytical-insights-and-foresight

Data virtualisation can simplify data access and improve agility. Three uses of virtual data sources are: 1) Merger and Acquisition: Due to merger of data warehouses, OLTP systems are changed which causes the ETL jobs to break. This situation can be avoided by introducing virtual data sources between source OLTP systems and the data warehouse or between data warehouses and data marts, 2) Stabilizing data warehouse ETL processing, 3) Simplifying self-service data preparation for business users to access data across multiple data sources. In conclusion, virtual data sources are useful in practice because of its ability to de-couple physical data sources from ETL processing improve design and introduce governance. Read more at: http://www.datavirtualizationblog.com/overlooked-capability-data-virtualisation/

The last decade saw the massive growth of big data. During that time, all the technologies did not change but there have been a lot of transformations. Cloud analytics, uses a range of analytical tools to help companies extract information from a massive amount of data and present it in a form that is readily available via web browser, has become popular among the companies with the emerging new data sources. With the need to store and process big data, a whole constellation of open source software such as Hadoop emerged, which is used to store and do a basic processing on big data and is also cheaper than a data warehouse for similar volumes of data. Scripting languages like Hive, Pig, and Python along with many open source tools like Spark are gaining much popularity. Read more at: https://hbr.org/2017/06/how-analytics-has-changed-in-the-last-10-years-and-how-its-stayed-the-same

The world is entering the age of abundance, abundance of data. And with this, the age of intelligence is on its way. According to Eric Scht, the author of the original article, in today’s world, science and critical thinking really matter a lot. People are becoming wary of changes looking at the rate at which technological advancement is taking place. With the massive increase in data in almost every field, the need for artificial intelligence and machine learning is being felt in a broad range of sectors including farming, energy, fashion and healthcare. Read more at: https://www.theguardian.com/small-business-network/2017/jun/22/alphabets-eric-schmidt-google-artificial-intelligence-viva-technology-mckinsey

At Singularity University’s Exponential Finance Summit in New York last month, Peter Diamandis talked about technology, money and a demonetized world. We all have access to everything at the palm of our hands due to advanced technology, robots implying higher efficiency and lower cost. But technological unemployment follows. The counterbalance to technological unemployment, is the demonetization of living. The most common example of this phenomenon is the smartphone where a bunch of different things can be performed in a single device. Demonetization is one of the factors of technological disruption, where money is taken out of the equation for a given product or service, making it available to everyone. Communication, Entertainment, Energy, Transportation, Housing, Education, Healthcare are a few fields of example Diamandis gave in this context. Read more at https://singularityhub.com/2017/06/08/technology-will-erase-jobs-but-also-make-everything-cheap-or-free/

Customer Value Maximization is a good method used to attract customers to increase transactions and keep active customers of a business for a long duration. The primary factors which contribute to the total revenues that a customer will generate are time, purchase frequency and monetary value of purchases. Maximizing the value of the customer to the business implies maximizing time × purchase frequency × monetary value equation. The pillars of every value maximization strategy are:

1. Customer segmentation 

2. Tracking customers over time.

3. Accurate prediction of future customer behaviour.

4. It should be based on the use of advanced calculations to determine the Customer lifetime value (LTV).

5. Marketing action optimization.

Read more at http://www.optimove.com/blog/maximize-customer-value-smart-way

Technical revolution is always an unbiased phenomenon but the human makes that positive or negative. After the mechanical revolution of the 19th century, AI is considered the next revolutionary phenomenon in human civilisation which will make a significant impact on technology and global socio-economic condition. AI’s decision making capability is still not highly advanced so AI can’t replace humans now. AI will kill some jobs and create some exciting jobs also. Technical innovation creates new opportunities and friends also. Read more at:https://www.entrepreneur.com/article/288956

The World is now more digital and with a better computational strength that ties up all humans. Can teachers will be replaced by the AI. We have crossed the technology sights of getting things more easy by robots and machines. There are situations where students under the shelter of teachers getting emotionally attached can be further given such place to AI. Our new step will turn up everything in the omnipresent form of technology. AI for future generations on education will be unpredictable. AI on another hand will need to be taken as pros or cons for developing new techniques for students. The digital future is still questionable in many fields Read more at: https://datafloq.com/read/artificial-intelligence-replace-human-education/3273

AI collected tremendous investments with Indian start-ups this year and big tech companies are flowing money on it. Tech giants are searching for new opportunities in AI to improve or revolutionise their regular operations.  This year tech industry has seen a significant AI investments in start-ups and companies. Some of them are Niki.ai, Absentia Virtual Reality Private Limited, QorQL, Innefu Labs etc. Start-ups mainly use their funds to improve its AI platform for predictive analytics and biometric authentication. Read more at: https://www.entrepreneur.com/article/295272

Increasing technology brings up more data and allow big data to act and perform more efficiently. Self-driving cars with more advanced technology are generating more data, new advancement of the license used in cars for smartphones and tablets that gathering Wide scale data. It affects insurance industry, by the introduction of new technology self-driving cars largely affects them with automatic car drivers. The data are also magnetic from different fields like in places such where sensors are attached to track down illegal cars. The business marketers are also developed for knowing the consumer behaviour zones outside their stores by tracking the road system. The big players are working for big data on connected cars. Read more at: https://datafloq.com/read/connected-cars-big-datas-next-mining-ground/3007

The pact of era divides itself in three stages-pre-modern, modern, post-modern. The era with an ideology of marketing that walks with these three stages can be explained, now marketing is turning up to post-modern where it pushes down emotional and the left brain. The trend which is playing the most exogenous aspect to the buyers by recollecting them together and pushing all ideas of innovation tech to experience made to buyers. The greater impact that can change and will continue to change many marketing businesses are AI and machine learning, which provides accuracy based on sales. Marketers should focus on its strategies to use machine learning with much more creativity, use more analytical tools, should be emotional and more suitable. Read more at: www.thedrum.com/news/2017/06/06/get-ready-the-era-post-modern-marketing